Key Points
- Director J. Michael Nauman bought 2,000 MATW shares at an average price of $22.97, spending $45,940 and increasing his direct holdings by 39.36% to 7,081 shares.
- Matthews International reported quarterly EPS of $0.06, missing the $0.41 consensus estimate, while revenue of $246.02 million also fell short of the $264.54 million forecast.
- The company declared a quarterly dividend of $0.255 per share, representing a 4.4% yield, but analysts remain negative: two firms rate the stock “Sell,” producing an overall “Sell” consensus.
Matthews International Corporation (NASDAQ:MATW - Get Free Report) Director J Michael Nauman bought 2,000 shares of the company's stock in a transaction that occurred on Monday, August 10th. The shares were bought at an average price of $22.97 per share, for a total transaction of $45,940.00. Following the acquisition, the director directly owned 7,081 shares of the company's stock, valued at $162,650.57. This represents a 39.36% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Matthews International Stock Performance
Shares of NASDAQ MATW opened at $23.25 on Thursday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.02 and a current ratio of 1.76. The stock has a 50 day moving average price of $26.56 and a 200 day moving average price of $26.49. The stock has a market capitalization of $725.70 million, a PE ratio of -25.00 and a beta of 1.09. Matthews International Corporation has a 52 week low of $21.95 and a 52 week high of $30.93.
Matthews International (NASDAQ:MATW - Get Free Report) last posted its quarterly earnings results on Friday, August 7th. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.35). Matthews International had a positive return on equity of 4.51% and a negative net margin of 2.65%.The company had revenue of $246.02 million for the quarter, compared to analyst estimates of $264.54 million. Analysts predict that Matthews International Corporation will post 0.53 earnings per share for the current fiscal year.
Matthews International Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, August 10th will be given a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Monday, August 10th. Matthews International's dividend payout ratio is -109.68%.
Institutional Trading of Matthews International
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its holdings in shares of Matthews International by 5.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,614,201 shares of the company's stock worth $41,677,000 after buying an additional 83,860 shares in the last quarter. UBS Group AG boosted its position in shares of Matthews International by 45.2% in the fourth quarter. UBS Group AG now owns 151,700 shares of the company's stock valued at $3,962,000 after acquiring an additional 47,246 shares during the period. Equitable Trust Co. grew its stake in shares of Matthews International by 223.6% in the fourth quarter. Equitable Trust Co. now owns 29,045 shares of the company's stock valued at $759,000 after acquiring an additional 20,070 shares in the last quarter. Peapack Gladstone Financial Corp bought a new position in Matthews International during the fourth quarter worth about $679,000. Finally, Forty three Eighteen Advisors LLC bought a new position in Matthews International during the fourth quarter worth about $1,583,000. Institutional investors own 83.08% of the company's stock.
Analysts Set New Price Targets
MATW has been the subject of a number of analyst reports. Weiss Ratings reissued a "sell (d+)" rating on shares of Matthews International in a research report on Monday, August 3rd. Zacks Research cut shares of Matthews International from a "hold" rating to a "strong sell" rating in a report on Monday. Finally, Wall Street Zen downgraded shares of Matthews International from a "hold" rating to a "sell" rating in a research note on Saturday, August 8th. Two equities research analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of "Sell".
Read Our Latest Research Report on MATW
Matthews International Company Profile
(
Get Free Report)
Matthews International Corporation (NASDAQ:MATW) is a diversified industrial company headquartered in Pittsburgh, Pennsylvania. The company operates through two primary business segments—Brand Solutions and Memorialization—offering a broad range of products and services designed to meet the needs of industrial manufacturers, brand marketers and the funeral industry worldwide.
In its Brand Solutions segment, Matthews International provides engraving and digital printing systems, automated finishing equipment, thermal management products and electronics assembly solutions.
Further Reading
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